8:31: We're still waiting for the call to start, in the
meanwhile, there's a lot to think about here ...

It's the first big move in the Larry Page era, did Google just infuriate
Samsung, who was making Google Nexus
phones, does this mean mobile ads don't work -- oops! Must stop
now, the call is starting ...

8:33: Jane Penner, head of Google IR on the call, introducing
speakers///

8:35: Larry Page on the call, tremendous shareholder
value. In May 2005, met Andy Rubin, who had a crazy vision for mobile
industry. Thought inefficient for hardware makers to make
software. That was just 6 years ago and now Android a leading
platform. Android has grown tremendously. More than 150 mill
Android devices activated worldwide, 550,000 Android devices lit
up every day.

8:36: As for Moto, innovation has led to industry milestones,
including first mobile phone, the starTac. After launch of
Android, new CEO got together with Andy. Sanjay made a big bet he
bet on Android, and that has seen him transform Motorola.
Motorola has a great team w. experience in mobile computing.
Exciting product roadmap. Oppty to accelerate in the home
business. Strong patent portfolio.

8:38: Look forward to working with all of our partners. Android
is open and it will stay that way. Plan is that Moto will remain
a licensee. Spoken to some of our partners, they share our
enthusiasm. Will let Sanjay and his team to drive the business.

8:41: Sanjay Jha, MMI's CEO is talking on and on
about Motorola's business ... generally bland non-talk about the
company.

8:41: Pat Pichette, Google CFO: Google will acquire for $40 per
share in cash, a 60% premium over Friday's close. Unanimously
approved by boards of both companies. Mildly accretive, we will
run Moto as a sep business, will include segment. Not an effect
on our core business.

We keep plenty of financial flexibility for future opptys. Over
120 acquisitions over the last few years. Turn over to questions
...

8:43: Broad legal ramifications before and after deal closes?
Legal strategy? Call was cut off ...

David Drummond, Google's legal chief: Android under threat from
some companies, while I'm not prepped to talk strategies,
combining with Motorola and having that portfolio to protect the
ecosystem is a good thing.

Sanjay Jha: Over 17,000 issued, over
7,500 applications out there. Much better support to the
businesses.

8:47: Android partners, a risk to them?

Andy
Rubin: I spoke yesterday to top 5 licensees, all showed
enthusiastic support. Android was born as an open system, doesn't
make sense to be a single OEM.

8:48: What convinced you this was optimal solution? Competencies
that aren't core to Google?

Larry
Page: I'm excited about this deal, while competencies that
aren't core to us, we plan to operate as a separate business,
excited about protecting the Android ecosystem. We really believe
Moto has optty for growth, we believe in them and its vision for
the future.

8:50: Patrick: Once deal closes, accretive on non-GAAP basis.

David: I think aggressive demands in the Android ecosystem.

8:51: How does this change from a partner perspective? Does this
help Microsoft?

Larry Page: We expect no change, no change in how we're running
Android. Partners excited about this.

Andy: Moto one of the early licensees, I see as protection to the
ecosystem and extending it also.

8:53: David: We strongly believe this will be approved. We think
it's strongly competitive. We are protecting the Android
ecosystem, which is pro-competitive. We certainly think this is a
competitive transaction. In terms of the agreement, we'll be
filing agreement it will be in the public filings which will be
forthcoming.

8:54: Legal ramifications? How does that change w. the lawsuits
filed? How did you put a price on the value? Why no stock?

David: Before acquisition closes, lawsuits managed by Moto. Don't
think there is anything more to add. We're not going to talk
about the legal strategy. In a good position to protect
ecosystem.

Patrick: We really believe we have a fair and full price for this
transaction. In that context that we have the valuation.

8:56: How do you manage the business models related to partners?
How is Android at an equal playing field?

Larry Page: Tremendous Android success because we've been open.
We have Nexus and we have a lead device strategy. We select each
around Xmas a manufacturer. That includes semiconductors and
other components and teams join together in one building and by
Holiday a device pops out, and that will not change. Moto will be
a sep business, they will have to bid and compete.

9:00: Will you look at more patent buys?

David: We need to build patent portfolio. We will continue to do
that.

9:01: Turn it to Larry page for last thoughts ...

Larry: We are excited about this whole business and working with
Motorola team. We at Google excited about this. MMI folks are as
well. Android growing like crazy. Benefit all, including
Motorola. Excited about those opttys. MMI made a great bet and
that made them a leading Android maker. The leading home devices
maker, big optty. With that, thank everyone for joining us.